The Chartered Institute of Supply Chain Management (CISCM) Man of the year 2023 and Founder, Chairman, and Chief Executive Officer of the McDan Group of Companies, Dr. Daniel McKorley has revealed that corruption is commonly created within the Supply Chain operations with over and under invoicing.
Supply Chain he stated, has not received the necessary top management commitment in the country to play it’s critical role for transparency and value for money .
Dr. McKorley emphasized that in every organization if the supply chain is not handled well by professionals, leakages are highly likely to occur contributing to about 18.8% of the total revenue.
He was of the view that, in today’s globalised and interconnected world supply chain, management face numerous obstacles that can hinder the organizational growth and development. The challenges he mentioned include, Capital market conditions, increasing customer expectation, technology, sustainability concerns and geopolitical uncertainty.
“However, it is on the face of this challenges that we must set innovative solution to integrate Suppy Chain Manage and drive forward an organization and industry as a whole”.
Highlighting on the 5 innovative ideas to address supply chain challenges and achieved integrated supply management, Dr. Daniel McKorley mentioned digital transformation as one of the solutions saying, Supply Chain professionals and organizations must adopt digital platform such as Block chain, Artificial Intelligence and the Internet.
He revealed that, after building a company to certain level, you don’t need a strong man to build the company anymore but, only need systems and structures to work for you.
The second innovative idea he talked about have to do with collaboration and partnership saying, collaboration and partnership must be shown among stakeholders involved by, fostering a culture of trust operations that organisations can share resources, expertise, information resulting in streamline process, improve communication and reduce cost in supply chain management.
Sustainable practices he stated, is another innovative idea to combat challenges of supply chain.
According to him, he would not sell the soul for his integrity and tasked members to be serious and to let their integrity be ahead of them.
Developing a skilled and diverse workforce is crucial for integrated supply chain management. “Invest in training and development programs that enhance employees’ knowledge in areas such as data analytics, risk management, and emerging technologies. Additionally, foste culture of continuous learning, innovation, and collaboration to attract and retain top talent”.
Customers he stressed, need to be placed at the center of the supply chain by understanding their needs, preferences, and expectations. “By integrating the customer’s requirements into the entire supply chain, organizations can create a competitive advantage and fuel development”.
He urged the organization to come out with a proper software to support companies and to be able to run their systems.
He urged members to be patient at their workplace for customers, wisdom to navigate their troubles and never be inpatient to serve whoever they have to serve and let their integrity speak for them.
The integration of innovative technologies and practices into supply chain management he averred, is not just a strategic advantage but a necessity in today’s global economy adding that, it is through such integration that they can address the myriad challenges facing them and turn them into opportunities for development and growth. “As leaders in this industry, it is our responsibility to pave the way for a more integrated, efficient, and sustainable future. Remember, in the realm of supply gain management, we are only as strong as our weakest link. Let us, therefore, commr to strengthening every link in our chain, together”.
